blockchain

PolySwarm’s CEO Revealed That Public Knowledge Of Blockchain And Cybersecurity is Rising

Cybersecurity is becoming a more important demand as the blockchain industry expands. Due to this, PolySwarm’s CEO Steve Bassi believes developers should utilize blockchain technology for cybersecurity development.

Cybersecurity Faces Challenges in Blockchain Adoption

Bassi revealed that blockchain applications in cybersecurity are still in their infancy. Even though understanding of blockchain technology and security is growing, using his professional career as a reference. The PolySwarm CEO noted that awareness has increased over the past five years.


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The modest gains made in cybersecurity are not enough to accommodate blockchain applications. Bassi noted that the expansion in blockchain networks is beginning to pose a problem for cybersecurity projects.

According to Bassi, PolySwarm has already developed a project that can utilize the technology to enhance efficiency. The company intends to achieve this by rewarding users who provide details on malware.

Bassi further added that:

“The longevity of significant malware campaigns is shortened by collecting comprehensive data about malware networks.” This will eventually improve the security of the internet and the users of PolySwarm. “

The “Brave Browser” is an inspiration for PolySwarm, Bassi noted. Antivirus manufacturers currently collect what he called “ultra-valuable malware infrastructure” information. However, they do not even pay people to share it.

Commenting on the controversial ways in which Web2 platforms like Google and Meta collect data, he said Web3 is different. PolySwarm has adopted the Web3 infrastructure focused on user privacy as a decentralized entity.

Cybersecurity Increasing Presence in Digital Asset Ecosystem

Last month, a cybersecurity company, Octagon Networks, joined the BTC bandwagon by converting its entire balance sheets into crypto assets.

After that, the company started accepting Bitcoin as payment for its services with a 50% discount.

Similarly, a U.S.-based think tank, the Atlantic Council, released a document on the security of central bank digital currency (CBDC). According to the report, the group points out the risks associated with CBDCs, including privacy and regulation.

The emergency of privately issued digital currency has brought about an explosion in the use case of digital assets. As a result, new payment platforms have emerged with varying use cases.

Commercial banks may have been the only financial service providers allowing individuals to send and receive money. However, the coming of cryptocurrency has brought about a disruption in financial services.


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Millions of households worldwide are unbanked, while cross-border transactions are painfully slow and costly.

Digital assets are now the solution that provides quick and affordable transactions to many worldwide. It has become the alternative to the traditional financial system for most of the unbanked population.

Authorities came up with the concept of central bank-issued digital currencies. But this appears to be a half-hearted effort to limit cryptocurrency adoption.

However, central bank digital currencies (CBDC) benefit the financial system. But a cursory look at the CBDC indicates a disruption to the structure of the financial market.

Meanwhile, the cybersecurity of the token is prone to hacking attacks due to being hosted on centralized platforms.


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